Fund administration giant SS&C has been selected by Australian alternative asset manager Global Merces to provide services from its new integrated solution with DST.
SS&C completed its $5.4 billion acquisition of DST Systems in April, which included latter’s mutual fund administration business ALPS.
In May, SS&C Technologies began integrating DST Systems into its fund administration business and has appointed its own co-head of hedge fund services to oversee the operation.
Global Merces will use SS&C’s investment accounting, asset servicing and mutual fund platforms under the new deal.
“The implementation process moved very quickly and we are now going live on a market leading platform in an incredibly short period of time,” said Holly Grofski, managing director and chief executive officer of Global Merces.
“Global Merces has ambitious plans in the region and globally. In SS&C, we are confident we have a long-term partner who shares our dynamic and innovative approach, and who will work with us to support our ambitions.”
Over the years SS&C has made a number of high profile acquisitions in the fund administration space, buying out the business from Citi, Wells Fargo and Conifer.
In 2018 alone, SS&C has announced two deals, with the purchase of CACEIS North America fund administration and DST Systems.